Australia Furniture and Home Furnishings Market Report and Forecast 2024-2032

Australia Furniture and Home Furnishings Market Outlook

The Australia furniture and home furnishings market size reached USD 9.04 billion in 2023. The market is expected to grow at a CAGR of 4.5% between 2024 and 2032, reaching USD 13.45 billion by 2032.

Key Takeaways:

• The Australian Bureau of Statistics noted a 19.4% surge to $7.14 billion in new residential construction values in January 2024.

• Non-residential building values, reported by the Australian Bureau of Statistics, increased by 12.4% to $4.92 billion in January 2024.

• Each year, the Australian Building and Construction sector manages construction worth over $162 billion in value.

Home furnishing stores contribute significantly to the Australia furniture and home furnishings market by providing a wide array of furniture, decor, textiles, and accessories

This extensive selection enables customers to discover items that align with their personal style and home requirements. Home furnishing stores offer a diverse range of furniture, decor, textiles, and accessories to suit various styles and home needs. Their styled displays inspire design concepts, providing convenient one-stop shopping. Knowledgeable staff ensure quality and customization options for personalized choices.

Furniture stores specialize in a wide selection of furniture for every room, including sofas and beds, with various styles and materials. Expert staff assist in choosing durable, quality furniture. Custom orders allow for personal designs, and packages simplify room furnishing. They also offer delivery, assembly services, and showroom experiences.

In March 2024, IKEA Australia introduced IKEA Kreativ, a free AI-powered mixed-reality tool. This tool enables easy room design by scanning spaces, erasing existing items, and trying out IKEA furniture. With over 50 pre-loaded showrooms, customers can explore fresh design ideas.

Market Segmentation

Australia Furniture and Home Furnishings Store Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Home Furnishing 

• Furniture

Market Breakup by Store Type

• Inclusive Retailers /Dealers 

• Exclusive /Retail Showrooms

Market Breakup by Ownership

• Independent Stores 

• Retail Chains

Market Breakup by Region

• New South Wales

• Victoria

• Queensland

• Australian Capital Territory

• Western Australia

• Others

The Australia furniture and home furnishings market key players are Ashley Furniture Industries, Inc., Harvey Norman Holdings, MillerKnoll, Inc., Inter IKEA Systems B.V., Haworth Inc., Papaya Pty Ltd., and Steelcase Inc. among others.

Key Highlights of the Report